BlackLine, Inc. (NASDAQ:BL) Holdings Increased by Xponance Inc.

Xponance Inc. lifted its stake in BlackLine, Inc. (NASDAQ:BL) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,142 shares of the technology company’s stock after acquiring an additional 350 shares during the period. Xponance Inc.’s holdings in BlackLine were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BL. Intech Investment Management LLC boosted its stake in BlackLine by 36.1% during the fourth quarter. Intech Investment Management LLC now owns 20,201 shares of the technology company’s stock valued at $1,227,000 after buying an additional 5,360 shares in the last quarter. Cibc World Markets Corp acquired a new stake in BlackLine in the 4th quarter valued at about $328,000. Corient Private Wealth LLC acquired a new position in shares of BlackLine in the 4th quarter worth approximately $254,000. Swiss National Bank raised its holdings in shares of BlackLine by 1.2% in the 4th quarter. Swiss National Bank now owns 104,000 shares of the technology company’s stock worth $6,319,000 after purchasing an additional 1,200 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in BlackLine by 2.5% during the fourth quarter. HighTower Advisors LLC now owns 6,475 shares of the technology company’s stock valued at $393,000 after purchasing an additional 161 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BL has been the topic of several recent research reports. BMO Capital Markets decreased their price target on shares of BlackLine from $68.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $86.00 target price on shares of BlackLine in a report on Wednesday, January 15th. Truist Financial reduced their target price on BlackLine from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Piper Sandler dropped their price target on BlackLine from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 12th. Finally, StockNews.com lowered shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, BlackLine has an average rating of “Hold” and an average target price of $66.40.

Insider Buying and Selling

In other BlackLine news, CRO Mark Woodhams sold 9,088 shares of BlackLine stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $49.67, for a total value of $451,400.96. Following the completion of the sale, the executive now directly owns 65,414 shares in the company, valued at $3,249,113.38. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.93% of the stock is owned by corporate insiders.

BlackLine Price Performance

Shares of BL opened at $48.81 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.59 and a quick ratio of 2.69. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 10.80 and a beta of 1.03. The business’s 50-day moving average is $54.08 and its 200-day moving average is $56.75. BlackLine, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $69.09.

BlackLine (NASDAQ:BL) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). BlackLine had a net margin of 24.67% and a return on equity of 21.63%. Equities research analysts expect that BlackLine, Inc. will post 0.9 EPS for the current fiscal year.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.